subject: Your 10 Keys To A Successful Launch In Your Online MLM Recruiting Business [print this page] Your 10 Keys To A Successful Launch In Your Online MLM Recruiting Business
FROM THE DESK OF: Phil Scruggs
(1) Creating a mission statement should be one of the first few steps in your business plan..... Creating a business plan should be the very first thing you do. There is plenty of help in setting up a business plan. The Small Business Development Center is one of the best resources available. You can find yours simple by getting on the Internet and typing it into the Google Search Engine. Your mission statement is simply your version of what you hope to accomplish and how you are going to do it.
(2) You will have to decide what the legal structure will be for your business. Like anything else there are benefits to making the best decision on your structure. Knowing the definitions to terms like General Partnership, Limited Liability Partnership, Sole Proprietorship,Corporation, (including S Corporation) You can find all the information at quickmba.com/law/org/ . A Sole Proprietorship is the way most MLM Businesses choose.
(3) You will want to give careful consideration when choosing your business name. Once you open for business your brand will steadily grow and name recognition will soon be established. Starting over would be a detriment to your business surviving. The name you choose should be unique and promote what you are doing. Online MLM recruiting businesses need to avoid names that include spam heavy words like opportunity, MLM, free, easy money etc.. When using Internet advertising name choice will be a big plus. You can usually find helpful suggestions by doing searches on the major search engines, like Google, Yahoo or Bing.
(5) Making the decision on your business address will be something that will be very important for you and your customers. MLM recruiters sometimes decide to use a P.O. Box for their business address which can cause some potential customers to doubt the legitimacy of the business. If you work at home it is recommended that you use your physical address. This too has it's negatives if you prefer that your customers not know your exact street address for privacy issues.
(6) Obtain a seller's permit and resale certificate if you will be selling taxable items or provide a taxable service. Contact your local licensing authority for the appropiate forms. Check and confirm that you actually need these license before applying. Many local communities will accept your application just to increase their intake of funds. These licenses may not be required when starting an online mlm recruiting business.
(7) You might need to have a business license in some communities. Most cities and or towns will require a license for you to operate legally from home. Online MLM recruiting businesses would be the exception if any. Most MLM companies will normally be in another state and all taxes and cost for operation will be accessed from that state. You can get most of the information you will need at your local court house however you may save yourself this cost by checking first using the internet. Again the laws and requirements are very different when it comes to operating a home based business with an online MLM company located in another state.
(8) If you a planning on hiring a staff you will need to register and get an employer ID number. These numbers are not necessary until employees are hired and can be obtained by completing form SS-4 from the Internal Revenue Service. A state identification number will be needed to report employee earnings for the purpose of taxation. Home based businesses are usually located in one state and work through companies in another state. One person sometimes works an onlie MLM recruiting business making a lot of the licening hassels unnescesary. Be sure to cover all your bases if you are employing others. It can come back to bite you and it usually does!
(9) Understanding the tax codes and knowing them is an invaluable tool. You can contact the Internal Revenue Service to receive a copy of the Tax Guide for Small Business. You will have a good unbderstanding of the basics after reading this guide. Understanding your tax liabilities is just as important for individuals operating a home based business as it is a large corporation especially for those working an online MLM recruiting business.
(10) You need to be aware of any problems that might arise while conducting your business. If a problem develpoes, knowing who to contact in advance will save you a lot of stress and anxiety. Cover your bases in case of legal, operational or taxation problems.
The Top 10 Steps To Triumph In Starting An Online MLM Recruiting Businesses was written to provide you with specific steps every entrepreneur needs to address before ever launching a new business. Being prepared and thinking ahead is invaluable when it comes to a smooth launch.
